Summerlin Benefits Consulting Q&AAnswer
Oct 15, 2024 - 09:38 AM
Yes, you can buy a life insurance policy on yourself. When purchasing a policy, you will be the owner, the insured (the person whose life is covered), and you can also designate beneficiaries who would receive the death benefit upon your passing. Buying a policy on yourself allows you to ensure financial protection for your loved ones, covering expenses like income replacement, debt repayment, and future needs. Additionally, you'll choose the type of policy, such as term or whole life, and set the coverage amount based on your financial goals and needs. Working with a licensed insurance adviser can simplify the process and help tailor a policy to your situation.
